House Okays N559bn Budget for NCC in 2023

Udora Orizu in Abuja 

The House of Representatives at plenary yesterday approved N559 billion budget for the Nigerian Communications Commission (NCC) for the 2023 fiscal year.

The approval followed the consideration and adoption of the report of the Committee on Telecommunications by the Committee of Supply, chaired by Deputy Speaker Hon. Idris Wase, who presided over the plenary session.

Chairman of the Committee, Hon. Akeem Adeyemi, who laid the report explained that out of the total amount of N559 billion, the sum of N86.7 billion was for recurrent expenditure, N5.2 billion was for capital expenditure and the sum of N35 billion only was for special project.

He also explained that the sum N16 billion was allocated for transfer to the Universal Service Provision Fund (USPF) while N416 billion would be transferred to the federal government for the period ending December 31 2023.

The report stated: “Issuance from the Statutory Revenue Fund of the Nigerian Communications Commission, 

the total sum of N559,080,711,000 only of which the sum of N86, 752,963,000.00 only is for recurrent expenditure, while the sum of N5, 224,501, 000. 00 only is for capital expenditure.

“The sum of N35,089,649 000 only is for special project, while the sum of N16,000,000,000 only is for transfer to the Universal Service Provision Fund (USPF), N416, 013, 598, 000.00 only will be transferred to the Federal Government of Nigeria, and the sum of N16,000,000,000 (sixteen billion Naira) only is for the Budget of the Universal Service Provision Fund (USPF) for the period ending 31 December, 2023.”